New feature: compare default balances
NestEgg’s decision engine now enables users to compare default balances. Defaults, especially recent ones, are a predictor of bad debt. But responsible lenders like to give the benefit of the doubt. A loan might be justified if there’s evidence that an applicant is making an attempt to pay down defaults. The reverse – where defaults…
Read MoreNew feature: applicant demographics
NestEgg’s decision engine now includes applicant demographics. Because most new borrowers join online, it’s harder than ever to get a full picture of an applicant. Furthermore, this problem is compounded when a lender is expanding into an unfamiliar area. As a result you don’t know much about the applicant. Nor the place where they live.…
Read MoreWe’re hiring a Client Success Manager
NestEgg is hiring a Client Success Manager. The salary is £27,500 with a pension matched to 4% of gross salary. The role is 100% remote / home based. We are looking for a full time employee, but may consider fewer hours or a job share. About the role NestEgg software helps our responsible lender clients…
Read MoreAlign automated decisions with your lending policy
NestEgg makes it easy to align automated decisions with your lending policy and risk appetite. As a result, automated decisions are not overturned. Consequently, time, effort and money is saved. Automation benefits are realised. Getting automation right Credit unions must maintain and implement an up-to-date lending policy appropriate to the scale and nature of the…
Read MoreFive tactics for 200% growth
NestEgg clients doubled the number of loan applications in January compared to the same period last year. On average, the value of loan books increased 25% during 2021. This is twice the sector average. Importantly, 1 in 5 applications were automated accepts. Furthermore, as Loans Officers choose not to overturn recommendations, loans are ready to go.…
Read MoreBuy Now Pay Later to be included on credit reports
Buy Now Pay Later is to be included on credit reports. Buy Now Pay Later (BNPL) has been booming. In the run up to Christmas 2021, 17m people were using this form of credit. One of the key players, Klarna, saw its customer base double to 15m since the start of the pandemic. It’s a…
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